As Federal Treasurer Wayne Swan prepares to hand down his sixth budget, here is what we already know will be announced on Tuesday.

The Treasurer says he is prepared to wear the political pain of not delivering his promised surplus this year, and is seeking to highlight big-spending plans for schools and the disability insurance scheme.

Although the figures will show a deficit, Mr Swan says the budget will chart a path back into the black in coming years.

Here is what we know so far:

The budget will remain in deficit for the two years to 2014-15, before being balanced in 2015-16. It will then return to surplus in 2016-17.

The baby bonus will be scrapped and replaced with an increase in benefits for those eligible for Family Tax Benefit (A). Eligible parents will receive $2,000 for their first child and $1,000 for each child thereafter.

A national road and rail infrastructure package worth $24 billion over the five years between 2014-15 and 2018-19.

Massive revenue write-downs will occur, with a shortfall of around $17 billion this financial year and more than $20 billion the following year

An increase in family tax benefits worth $1.8 billion due in 2015, worth between $300 to $600 a year for families, will be dumped

An income tax cut slated for 2015-16 will be deferred. The tax cut was part of the carbon scheme compensation package and would have increased the tax-free threshold from $18,200 to $19,400

$2.3 billion will be cut from universities to fund Gonski education reforms. This means the 10 per cent discount on upfront university fee payments will be abolished, student start-up scholarships will be converted to loans, and there will be a lower limit on tax deductibility of self-education courses

$9.4 billion of Gonski funding from the federal budget will be indexed at a higher rate of 4.7 per cent over six years

The budget will include a new taxation treaty with Switzerland, tipped to be worth $100 million

$25 million will be allocated for Antarctic climate change research

$900 million will be saved over four years from changes to superannuation tax arrangements by taxing earnings of more than $100,000 on superannuation pensions and annuities at 15 per cent, instead of being tax-free